Service Description- This service allows citizens to obtain loans for purchasing a house or building a joint parcel
Eligibility or Criteria- Brothers or the son and one of his parents may obtain loan for purchasing a joint house or building a joint parcel according to the following terms:
- General conditions for obtaining building loans:
- The Bank provides loans of housing welfare for building parcels according to the following general conditions:
- The paterfamilias must have the Kuwaiti nationality and the marriage contract must have been issued at least (2) years ago. Applicants who have children are excluded
- The paterfamilias must not be less than (21) years old
- The paterfamilias, his wife and dependent children must have not received housing welfare from the Government
- The paterfamilias must not own a real estate with an area of (200) square meters or more, or share in the ownership of a real estate which provides suitable housing welfare to his family
- The paterfamilias must not have appraised or sold a real estate for more than (140.000) KD, provided that the house selling price added to the desired loan or appraisal does not exceed (140.000) KD
- The real estate must be owned by the applicant, the borrower, under an official contract and title document
- The document of title must be free of any in-kind guarantees for third parties
- Conditions for obtaining loans for building government parcels:
- If the loan is intended for building a parcel, in addition to the general conditions above stated, the following terms must be provided:
- The parcel must be owned by the applicant, the borrower, under an official contract and title document
- The parcel must be free of any in-kind guarantees for third parties
- The area of the parcel must not be less than (375) square meters
- Copy of the construction license and the plan with an area not less than (360) square meters must be submitted
- Usufructuaries of the government parcel under the government guarantee must submit copy of the construction license and the plan with an area not less than (470) square meters
- Conditions for obtaining loans for building a private parcel:
- Private dwellings or private parcels are houses built or bought without obtaining loans from the Bank. Loans for expanding and restoring private houses are obtained according to the following criteria:
- The paterfamilias must have the Kuwaiti nationality and number of family members must not be less than two (2) Kuwaitis
- The real estate must be owned by the paterfamilias under an official contract and title document
- The real estate must be free of any in-kind guarantees for third parties
- The applicant must be capable of paying the installments due
- The state of the house must require urgent restoration works
- The paterfamilias must not have got a real estate appraisal or sold another real estate for (70.000) KD. The paterfamilias may be considered for receiving the loan, if the realization of the real estate was made (5) years ago or more
- Note: If the paterfamilias owns less than (50%) of another real estate, he may be considered for receiving the loan with the possibility of putting this real estate on mortgage. In application of this term, the real estate is considered owned by the paterfamilias, if it was transmitted either directly or indirectly to his wife or one of his dependent children
- The house must not be rented
- The applicant must not have obtained the maximum amount for the private house loan. The following applicants can obtain private house loans with a maximum amount of (30,000) KD:
- Applicants who obtained total sum of loans less than the maximum amount may be considered for receiving a loan amount equals the difference between the maximum amount and the sum of loans obtained
- Applicants who sold a private house and have never obtained the loan
- Applicants who sold a private house may be considered for receiving a loan amount equals the paid sum with a maximum amount of (30,000) KD, provided that the house selling price added to the desired loan does not exceed (140.000) KD
- The loan stated in the previous term is received for the purposes of expansion and restoration, or for continuation of construction works and purchase
- The house must have been constructed (10) years ago starting from the date of connecting the electric current, in order to consider its needs for restoration
- First: If the loan is for purchasing a joint house, in addition to the general conditions of building loans above stated, the following conditions must be met:
- The real estate must be habitable and separated into two detached houses, each has separate entrance. The bank inspects the real estate to confirm meeting this condition before purchase approval
- The house must be owned by two brothers or a son and his parent
- Any of the house owners may not solely request selling the house
- The area of the parcel must not be less than (750) square meters. Each owner's share of the area must not be less than (375) square meters. The total building area of each share must not be less than (360) square meters
- A separate document of title for the house must be issued in the name of each owner
- The house must be free of any in-kind guarantees for third parties
- Note: Requests that do not meet the first condition may be accepted after receiving the approval of Kuwait Municipality and implementing the required architectural modifications. The modification costs are determined by the Department of Architecture and retained till implementation
- Second: If the loan is for building a joint parcel, in addition to the above stated conditions, the following conditions must be met:
- The two houses must be separated architecturally and constructional with a property line
- Applicants must submit a copy of the license and the plan
- The divorcee or the widow who applies for a real estate loan must have a son who reached (21) years old or older, or a daughter who reached (30) years old or older
Required Documents- Copy of the nationality certificate and the civil ID, for the husband, wife and children
- Copy of the marriage contract, provided that the marriage contract have been issued at least (2) years earlier or the family has a child. If the wife does not have a Kuwaiti nationality and does have any children, the marriage period must cover (4) years at least
- A marriage continuity letter from the Palace of Justice, if the family has no children
- Certificate from the Real Estate Registration and Authentication Department in the Ministry of Justice in the name of the husband, his wife and children stating: the current and previous relations, and the realization method of the real estate, if sold. Copies of the mortgaged title documents and lists stated in the certificate
- Appraisal certificate from the Expropriation Department in Kuwait Municipality in the name of the husband, wife and children including their shares in the appraisal (If any)
- Detailed salary certificate from the applicant's employer, for employees in the government sector
- Detailed salary certificate from the Public Institution for Social Security stating the starting date of contribution and income amount and Certificate from Civil Service Commission stating whether they received the social allowance or not, for employees in the civil sector
- Approval letter from the applicant's employer on transmission of the monthly installments and leaving indemnity, provided that the capital of the company is not less than (500.000) KD, for employees in the civil sector
- If these terms are not met, a sponsor working in the governmental sector must attend the procedures, and the following documents must be submitted:
- •Copy of the civil ID
- •Written letter to the Bank on the sponsorship
- •Copy of the nationality certificate
- •Salary certificate from the applicant's employer, provided that each installment is not less than (15%) of the applicant's, borrower's, total salary
- Original civil ID for the father of the husband and a copy, if he is alive
- Copy of determination of heirs and a certificate from Real Estate Registration and Authentication Department in the Ministry of Justice, if the father is deceased
- Letter from the Public Authority for Housing Welfare on applicant's exclusion from his father's house, in case the house document of title of the deceased father was not issued
- Copy of the judgment for changing the name, the marriage contract, and all the required certificates in the old and new names, if the forename or surname was changed
- Marital status document from Ministry of Justice in the Government Mall and the civil ID for the father, if he is alive. Determination of heirs and a certificate from the Ministry of Justice in the name of the father, if he is deceased. For divorcees and widows
- Letter from the Public Authority for Housing Welfare on the relationship among the husband, the wife and the children, and Documents before and after selling the real estate, if a house for limited income people is sold
- Note: All documents expire after six months, unless shorter expiration periods are stated in the document
ProceduresVisit the nearest branch of Kuwait Credit Bank (Farwaniya branch, Ahmadi branch, or Jahra branch) and submit the required documents
Fill the service application forms
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